back Back

TECH5 Group enters into a strategic partnership and invests in uqudo

By Leandra Monteiro

December 16, 2022

  • Africa
  • AML
  • Biometric Authentication
Share

uqudo, TECH5 TECH5, an innovator in the field of biometrics and digital identity management, has made a strategic investment into uqudo, a full stack Digital Identity provider for the Middle East and Africa. uqudo will use the proceeds, received as part of an early investment round, to support the launch and growth of unique new products tailored towards the region in collaboration with TECH5.

uqudo is an existing partner and customer of the investing company, integrating TECH5’s technologies for facial authentication and liveness SDKs as part of the overall uqudo offering. “From a strategic point of view for TECH5, uqudo is a great partner for the integration of both companies’ offerings to create unparalleled digital KYC and National Identity programs in the Middle East, Africa, and other regions,” said Rob Haslam, TECH5’s Strategic Advisor. “In addition, we appreciate access to uqudo’s expertise as a full-service provider in the space of digital onboarding and authentication.”

uqudo offers a digital identity platform for customer onboarding and verification, integrated with biometric modalities of TECH5 for verification, biometric liveness detection, NFC-based government-issued IDs and passports reading and verification, cognitive document analysis and AI-based document scanning. This enables users to experience a fast, frictionless, and secure onboarding process while ensuring compliance with KYC (Know Your Customer), AML (Anti-Money Laundering) and CDD (Customer Due Diligence) regulations. “We are delighted to have TECH5 as an investor and a partner and believe that our collaboration and joint technology offering will bring wide expertise and innovative tools for biometric onboarding, verification, and digital identity management to the market,” said Mohamed Fagiri, Founder and CEO at uqudo.

With uqudo expanding its coverage and capabilities across the Middle East and Africa, and TECH5’s experience in biometrics and identity management in the region, this collaboration will allow cross-validation of identities without time-consuming manual verifications. uqudo’s full-fledged AI document scanning, verification and customer screening, powered with TECH5’s inclusive biometrics technologies creates a market-leading proposition. The combined offering will also help prevent identity theft and reduce customer acquisition and paper-based costs.

With the joint offering, in addition to the Middle East and Africa, TECH5 and uqudo are planning to target the wider EMEA geography in 2023, with a focus on Fintech, Blockchain, Banking, Insurance, Travel, and Tourism industries as well as public sector organizations.

Previous Article

December 16, 2022

World Cloud & Data Center Show accelerates Saudi Arabia’s cloud adoption initiatives

Read More
Next Article

December 16, 2022

Paysend enters Open Banking Payment initiation partnership with Plaid

Read More








IBSi Daily News Analysis

Fraud

February 23, 2024

Africa

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Prove Identity & TargetData join forces to drive expansion in Brazil

Read More

Today

UNIPaaS unveils AI payment assistant solution for SaaS platforms

Read More

February 22, 2024

Bud & Fintech Galaxy bring AI-led Open Banking solutions to MENA

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023